Mortgage Rates Fall Again

By Liz Clinger Updated on 6/21/2012

According to the Freddie Mac survey, 30-year FRM reached a new record low averaging 3.66% for the week ending today, down under last week’s 3.71% average and down from this time last year’s average of 4.50%.

15-year fixed rate mortgage averages also down from the prior week, reaching 2.95% under last week’s 2.98% and far below the average from this time last year, which was at 3.69%.

5-year Treasury-indexed hybrid ARM showed an average of 2.77%, also down from the prior week’s average which was 2.80% and the prior year’s average of 3.25% at this time.

1-year Treasury-indexed adjustable rate mortgages also fell from the prior week, reaching 2.74% under 2.78% and down from last year’s average of 2.99%.

According to Bankrate’s survey of large banks, 30-year fixed rate mortgages decreased from 3.91% to reach 3.89% and 15-year fixed rate mortgages also slightly declined, reaching 3.16% under last week’s 3.17%. 5/1 Adjustable rate mortgage averages also fell from 3% to reach 2.97%.